(Ecofin Agency) - Last Monday, Teranga Gold announced that its estimate of Proven and Probable Mineral Reserves of Wahgnion gold mine in Burkina Faso has increased from 450,000 ounces to 1.61 million (+40%).

The new estimates are based on four deposits namely, Nogbele, Fourkoura, Samavogo, and Stinger. It also includes the result of the 73,000 meters infill drilling realized in 2017.  

According to the details Teranga Gold provided, with this new estimate, it will extend the project’s lifetime from 9 to 13 years.

“With average annual gold production of 132,000 ounces through to 2024, Wahgnion is expected to increase company-wide annual production by 50 percent to between 300,000 and 350,000 ounces”, Richard Young (photo), Teranga Gold’s CEO, said.

Let’s remind that Teranga Gold is already operating Sabodala gold mine in Senegal.